Regulatory Alerts2007-09-07
Added
MAS Notice 818 Change in Capital and Shareholders
The Monetary Authority of Singapore issued Notice 818 to regulate changes in capital and shareholders for finance companies under the Finance Companies Act. The notice requires finance companies to obtain prior approval from the Authority for any increase in paid-up capital, including new share issues, rights issues, or bonus issues. In granting such approval, the Authority assesses whether any person who is or will be a substantial shareholder qualifies as a fit and proper person.
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